Ethereum, a leading altcoin, has surged by 40% in the past week, notching one of its strongest performances in recent months. This rally has resulted in staked ETH coins moving back into unrealized gains since early March, potentially alleviating selling pressure among major coin holders.

Data from CryptoQuant shows that staked ETH coins, usually held by validators and long-term investors, had been experiencing unrealized losses since March 3, 2025, with the realized price below market levels. However, the recent market upsurge pushed ETH's value above the $2,279 mark on May 9, flipping staked coins into profitability.

When staked coins transition from losses to gains, it fosters confidence in the protocol and encourages more network engagement, possibly reducing selling pressure as holders are motivated to maintain their staked positions. A favorable funding rate of 0.001% in the ETH derivatives market also indicates growing willingness among futures traders to pay a premium for long positions, reflecting bullish sentiment and market conviction.

The climbing on-balance volume (OBV) for ETH underscores increasing demand for the cryptocurrency, supported by heightened trading volume. A surge in OBV signifies mounting buying pressure that could sustain upward price momentum, potentially propelling ETH towards $2,745. Conversely, if sellers regain control, ETH's price could retreat to $2,424, with a further decline to $2,243 if support at $2,424 is breached.